Innovation during a crisis as a lifeline for companies

Most entrepreneurs are convinced that in a crisis, the company must concentrate primarily on surviving. They justify their concern for the company's survival with the lower sales volumes and increased expenses that come from maintaining employees and other in-house resources during times of crisis. They act with caution because they do not know what will happen. At LivoLINK we believe that in times of crisis, it's worth focusing not only on fighting to survive but also on rolling out innovations to aid faster development once the crisis is over.

We present the reasons why we should consider implementing new solutions, streamlining all processes and investing in development, while other entities are thinking only about how to remain in the market.

During a crisis, all achievements fade away.

It's been proven that in the face of unexpected events, we all — as both individuals and companies — focus only on ourselves and our own survival. More often than not, companies can even forget that there are other players in the market. And the operation of those companies is only made possible by staff, cooperation with suppliers and partners and — last but by no means least — contacts with customers. All these parties linked to our companies will likewise forget about us when a crisis arrives and start thinking only about their own well-being. In such situations, it pays to take the initiative and come up with new ideas and offerings. And maybe our innovations and solutions will enable others to survive, helping us acquire loyal customers and business partners for the future.

Innovations alleviate difficult situations.

Coming back to support, let's take a look at the LivoLINK software. In a crisis, every penny matters and every company wants to save as much as possible in order to stay within budget. In the translation industry, LivoLINK software uses neural translation engines, artificial intelligence and translation memories to reduce service costs via automatic translation of content, and any pre-translated fragments that are already available in the translation memory can be excluded from the budget. This simple example shows how innovative solutions can not only increase the convenience of services, but also reduce their associated costs.

While some are stagnant, others develop.

It's during crises that most companies stop developing, expanding their offerings and moving forward. This shutdown may indicate problems in keeping pace with market development and competition in the future. While some companies working in localisation are struggling just to survive, others will be able to take advantage of our LivoLINK translation management system and exponentially increase their productivity. Our system makes it possible to manage a larger number of orders in a shorter period of time, while reducing the costs associated with the completion of each stage of translation projects.

These are just some of the reasons why focusing on innovative solutions in a crisis brings competitive advantages ready for when those difficulties are over. At LivoLINK, we're driven by innovation! Discover the opportunities offered by our translation management system for businesses, translation agencies and translators.

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